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Microeconomics II
book

Microeconomics II

by D.N. Dwivedi
August 2011
Intermediate to advanced content levelIntermediate to advanced
368 pages
14h 51m
English
Pearson India
Content preview from Microeconomics II
102 Chapter 4
APPENDIX
Long-run Equilibrium of Firms Under Monopolistic
Competition
As already mentioned in the text, long-run changes in monopolistic competition include (i) new rms
enter the industry, (ii) rms indulge price competition and (iii) rms make vigorous advertisement with
a view to enhancing their market share or to retain their market share especially when there is entry
of new rms into the industry or the product group. ese changes aect the market share of the rival
rms which leads to intensive competition. Chamberlin has used three models to analyses the eects
of these changes on rm’s equilibrium. His three models ...
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Publisher Resources

ISBN: 9788131797655